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26.08.202105:27 Forex Analysis & Reviews: Forecast for AUD/USD on August 26, 2021

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AUD/USD

The Australian dollar gained 17 points on Wednesday, which looks more like consolidation than continued growth. But we expected this consolidation yesterday, the price (according to the main scenario) is gaining strength before an attack on the target level of 0.7323. After the price overcomes this node from the intersection of the Fibonacci level of 23.6% and the MACD line, the 0.7452 target is just ahead - the Fibonacci retracement level of 38.2%. The Marlin Oscillator bent down a bit from the pressure of the zero line - the border with the growth area. Exit above yesterday's high of 0.7282 will be a signal to attack 0.7323.

Yesterday, the price settled above the MACD indicator line on the four-hour chart. The consolidation may continue today, as the Marlin oscillator is flat and shows an intention to decline a bit more. The support line is the MACD line (0.7235).

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